Discovery Capital Macro Fund Rebounds with 48% Return After Difficult 2022
• Discovery Capital Management's macro hedge fund saw 48% return in 2023, a sharp rebound from 29% loss in 2022 • The $1.5 billion fund was one of the best performers on Wall Street last year • The fund's bets on Latin American equities, US credit, and financial stocks drove major gains • The volatile fund has history of strong comebacks, soaring 55% in 2020 after 23% loss in 2019 • Discovery Capital's fund outperformed broader market, which saw tumultuous year with fastest Fed rate hikes in 4 decades